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Will the Global Crisis Produce International Cooperation?

The world's central banks coordinated a cut in short-term interest rates yesterday, as the US treasury considers buying stake in banks. Can countries cooperate further to restore confidence in the global economy? Will mutual interests overcome national rivalries? Will international finance meetings provide relief in the next few days? Also, will eligible voters be kept away from the polls?

FROM THIS EPISODE

The world's central banks coordinated a cut in short-term interest
rates yesterday, as the US treasury considers buying stake in banks.
Can countries cooperate further to restore confidence in the global
economy? Will mutual interests overcome national rivalries? Will
international finance meetings provide relief in the next few days?
Also, voting officials in six swing states may be violating the law by keeping eligible voters away from the polls.

Despite unprecedented moves in the past few days, the frozen credit markets have not yet thawed out. Now, the Treasury Department is looking at another dramatic action, taking ownership stakes in many American banks. Deborah Solomon reports for the Wall Street Journal.

Treasury Secretary Paulson said yesterday that governments around the world need to coordinate their actions so "the action of one country does not come at the expense of others or the stability of the system as a whole." Finance ministers from the industrialized West as well as China, Brazil and Saudi Arabia are coming to Washington in the next few days. They'll talk about interest rates, tax cuts, spending increases and the possibility of coordinating their efforts to restore confidence in the worldwide economy. But different countries face different problems, and they compete, especially with the US, which has been economically dominant for so long. We talk about hopes, as opposed to realities, as well as the decline of mutual trust and how it might be restored.

A story in today's New York Times that reports on state records and Social Security data in six of the so-called "swing states" in the presidential election -- Colorado, Indiana, Ohio, Michigan, Nevada and North Carolina -- finds that federal law appears to have been violated in two ways. Tens of thousands of people who correctly believe they have the right to vote have been removed from the rolls, and many others have been blocked from registering in the first place. Adam Skaggs is counsel at the New York University's Brennan Center for Justice.

Guests:Adam Skaggs, Counsel at the Brennan Center for Justice, New York University School of Law